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Infrastructure Bank seeks revolving fund for solid mineral sector

He also said although solid minerals development is needed to play catalytic role for the mining sector but there is the need to pursue a…

He also said although solid minerals development is needed to play catalytic role for the mining sector but there is the need to pursue a different mode of operation from past methods.
Dikko said this in Abuja while addressing stakeholders at the launch of the Australian and Canada financed project for the mining sector.
He noted that even though the sector has suffered decades of neglect, it yet “offers a tremendous opportunity for advancement of Nigeria’s sustainable economic growth.”
He further called for the adoption of a public-private partnership approach that combines private sector profit motive with public sector social objectives which create jobs and reduces poverty.
The fund has the potential to support infant industries and facilitate transfer of technical and financial resources through provision of grants, subsidies. And credit enhancement instruments, he said.
“The time to transform the solid minerals sector is now,” he said adding “with the right implementation of the solid minerals development fund, the federal government has a once in a generation opportunity to transform the sector for long term social-economic impact for the benefit of the Nigerian citizenry.”